Harvard University professor Kenneth Rogoff expects a few eastern European countries, among which Romania, to go bust in the next two to three years, according to Profil magazine, quoted by Bloomberg. “Not everyone will survive the consolidation of the state budgets,” Rogoff told the Vienna-based magazine. Ukraine, Romania and Hungary are “potential wobblers,” Rogoff said, adding that it is impossible to predict which countries may go bust. This will create a stress test for Austria, according to Rogoff. Read the Bloomberg article here. Kenneth Rogoff is a professor of public policy and economics at Harvard. He is the former chief economist at the International Monetary Fund (IMF). He has written on international finance, including exchange rates, international debt issues, and international monetary policy. His latest published book was 'This Time Is Different: Eight Centuries of Financial Folly', cu-authored by Carmen M. Reinhart. Read more about Rogoff here.

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